Logo of Phnom Penh Post newspaper Phnom Penh Post - Canadia subsidiary buys 15% stake in CVI

Canadia subsidiary buys 15% stake in CVI

Canadia subsidiary buys 15% stake in CVI


Diamond Island Development Co Ltd, owned by Canadia Bank, yesterday bought a 15 per cent stake in Investment and Development Company of Cambodia (IDCC)’s Cambodia-Vietnam Insurance Plc.


The companies declined to give the value of the stake. Ngay Mengly, sales officer at Cambodia-Vietnam Insurance Plc, said the company would provide insurance to Canadia’s clients.

“We choose DID (as the purchaser) because among Canadia companies, this one has many clients and lots of recognition.”

Ou Sophanarith, CEO at Canadia Bank, declined to provide information on the deal but confirmed the possibility of buying more shares in the future.

Canadia Bank chairman Pung Kheav Se and IDCC’s CEO Nguyen Dinh Duong could not be reached by the Post for comment yesterday.

To contact the reporter on this story: Rann Reuy at [email protected]


  • Japan bank buys major stake in ANZ Royal Bank

    Japan's largest bank acquired more than half of ANZ’s shares in Cambodia on Thursday, according to a statement from Kith Meng’s Royal Group. Japan's JTrust Bank, announced that they had acquired a 55% of stake in ANZ Royal Bank. According to a Royal Group

  • Proof giants walked among us humans?

    For years a debate has waged about whether certain bas relief carvings at the 12th-century To Prohm Temple, one of the most popular attractions at the Angkor Wat Temple Complex in Siem Reap province, depicted dinosaurs or some rather less exotic and more contemporary animal,

  • Long way to go before Cambodia gets a ‘smart city’

    Phnom Penh, Siem Reap and Battambang will struggle to attain smart city status without adopting far reaching master plans, according to officials tasked with implementing the program. The brainchild of the Association of Southeast Asian Nations (Asean), the smart city program seeks to link up

  • Endangered animals found dead in Pailin

    An endangered gaur was one of “many” wild animals found dead in “dozens” of illegal traps in Pailin province’s Phnom Khieu Wildlife Sanctuary, said Chit Thy, a military officer working with rangers to protect the conservation area, on Wednesday. Thy, an officer in the 507